Chapter Nine
The Dollar’s Days Are Numbered
What the Gold Market Tells Me . . .
Many of the market experts we interviewed for this book might think the dollar has a way to go yet, but whether they think it’s five years or several decades, they all say that the gold market has spoken! They believe the gold market tells us that the dollar’s days are numbered.
Why do they think that? Just look at what the gold market’s been up to in the past decade—as our central bankers and world leaders took control of the economy.
Here’s where gold closed on the final day of each year since 2000:
It’s gone up every single year since the dot-com bubble burst. The big milestones: Gold first jumped above $1,000 an ounce on March 13, 2008. It reached a new record high on September 6, 2010 of $1,923.70.
Lest you think that the run is over, keep in mind that, if we adjust for inflation, we’re still well below the old 1980s high, which would be over $2,200.
As newsletter legend and octogenarian Richard Russell says: “To my knowledge, this is the longest bull market of any kind in history in which each year’s close was above the previous year. This fabulous bull market will not end with a whisper and a fizzle. I continue to believe that the upside gold crescendo of this bull market lies ahead.”
Richard expects the wake-up ...
Get The Little Book of the Shrinking Dollar: What You Can Do to Protect Your Money Now now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
